UK Treasury: Bitcoin present the lowest risk rating

Regulation | November 19, 2015 By:

UK’s HM Treasury said that digital currencies such as bitcoin present the lowest risk rating for money laundering and terrorism financing.

“The money laundering risk associated with digital currencies is low, though if the use of digital currencies was to become more prevalent in the UK this risk could rise,” said HM Treasury.

HM Treasury also suggests that there isn’t much in the way of proof that terrorists are using digital currencies to move money and fund operations.

“There is little evidence to indicate that the use of digital currencies has been adopted by criminals involved in terrorist financing, whether as a means by which to raise funds (crowd funding etc.), to pay for infrastructure (e.g. server rental), or to transfer funds.”

UK’s HM Treasury is the government’s economic and finance ministry, maintaining control over public spending, setting the direction of the UK’s economic policy and working to achieve strong and sustainable economic growth.